Authors : Adaobi Stephenie Nwosi-Anele; Kaine Bene Chinwah

Volume/Issue : Volume 11 - 2026, Issue 1 - January

Google Scholar : https://tinyurl.com/47brvfnc

Scribd : https://tinyurl.com/243ama5c

DOI : https://doi.org/10.38124/ijisrt/26jan882

Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.

Abstract : Oil and gas have shaped Nigeria’s economy and energy system for more than six decades, providing the majority of government revenue and foreign exchange earnings. This study evaluates their role in Nigeria’s energy mix while situating the findings within the broader global energy transition. A descriptive survey design was employed, combining stakeholder questionnaires with secondary data from national and international sources to capture economic, environmental, and governance dimensions. Results show that oil and gas remain the backbone of Nigeria’s economy, contributing over seventy percent of government revenue and more than ninety percent of foreign exchange earnings. Stakeholders strongly affirmed their economic importance but highlighted vulnerabilities, particularly exposure to global oil price volatility and weak diversification into other industries. Environmental impacts emerged as a critical concern, with widespread agreement that gas flaring, oil spills, and greenhouse emissions have severely damaged ecosystems and livelihoods. Governance challenges, including corruption, poor transparency, and weak regulatory enforcement, were also identified as major obstacles preventing the sector from delivering equitable benefits. The study concludes that while hydrocarbons will continue to play a central role in Nigeria’s energy mix in the short term, long‐term sustainability requires a focus on integrating a circular economy into the oil and gas sector, decisive diversification into renewable energy, stronger institutions, and transparent governance. Nigeria’s abundant solar, wind, and hydro resources offer significant opportunities to reduce dependence on oil, while reforms that mitigate environmental harm and stabilize revenue can align the country with global energy transition goals. These findings reflect broader tensions in the global energy mix, where hydrocarbons remain indispensable yet increasingly unsustainable, underscoring the urgency of balancing energy security with climate commitments

Keywords : Nigeria Energy Mix, Oil and Gas, Circular Economy, Environmental Sustainability, Energy Policy.

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